Saga Share Discussion Threads

[kenmitch] 20/7/2019 15:12

EdmondJ

My attitude to claims is the same as yours and for same reasons.

It seems to be the bigger insurers who try to get clever over small print.

We are about to renew travel insurance. Currently it’s the only one with Saga but premium way too high compared with current Which Best Buy providers.

E.g excellent claims reviews for Holidaydafe Premier and Covered2go and annual premium as low as £63 up,to,age 79.
So well worth any readers of this checking out Which for all insurance as well as Trustpilot reviews on claims experience.

As for Saga’s way overpriced offerings ....those are in the past and right now under current Management. Just one of many reasons for diabolical share price.

But question now is whether new Management and/or whatever Elliott Capital have in mind could see share price bounce continuing. Seems their business is worth a lot more than current share price suggests.

[edmondj] 20/7/2019 08:56

kenmitch,

What stalls me about SAGA is knowing (for the last 5 years and latest quotes) they are un-competitive on price for home/motor but also falling short - if the reviews are reasonably representative - when it comes to dealing with claims.

It also seems to depend, what people actually expect from insurance policies. I am only in them for catastrophe and third party liability rather than making modest (regular) claims such as the woman who lost the food contents of her deep freezer. With any small claims I figure I'll end up paying more overall as policy rates adjust upwards.

As one example and coincidentally in the news, I suffered £500+ car engine damage from mice getting into my garage last winter. Like a scuff someone caused to my car when parked, I didn't see it appropriate to make an insurance claim, just get the repair done with a good garage of my choice. Currently there's an example of £15k damage caused by rodents where Aviva won't pay up:



hxxps://www.thebalance.com/is-rat-damage-covered-by-car-insurance-4147146

i.e. various insurers are trying to get clever over small print.

[glavey] 20/7/2019 01:48

It's just PR, not 'news'.

[nigelmoat] 19/7/2019 19:00

A bit of good news from article in the MailShip with Jools Holland club set to sink cruising's fuddy-duddy image https://mol.im/a/7256527

[kenmitch] 19/7/2019 17:57

Dr Biotech.

Not sure about cheapest option. Can be a problem if one way they keep premiums low is to avoid paying out whenever they can, citing small print hidden away as the reason. Ditto if inefficient with dealing with claims and then endless music about how important my call is but never answering. So I focus on reviews/Which comment on best ones for dealing with claims, even if it means paying more.

[boraki] 19/7/2019 16:18

Might be 47p

[sharebuddy1] 19/7/2019 15:02

Will be more than happy if the share price at the close on Friday is around 46p. This is a good platform for a significant rise in the forthcoming weeks.

[nav_mike] 19/7/2019 13:20

I personally think icebergs algos and bots are all wrong but i guess its the computer age we now live in

[dr biotech] 19/7/2019 12:23

I'm pretty much the same - last review I wrote was about terrible customer support from Sports Direct. I do make an exception for trip advisor where I just write honestly.

I do try and write positive stuff to people that I have dealt with on a personal level though if they have been good - short note to the School head if a teacher has done something above and beyond or similar with work related issues. That goes a long way.

I've never read a review site prior to buying insurance. Just used confused and take the cheapest option. Always hope/think that I'll never have to claim.

[nav_mike] 19/7/2019 12:20

justice

Its probably just a computerised iceberg order, where a larger order is broken down into smaller parts

[kenmitch] 19/7/2019 12:10

EdmondJ

Agree with your comments about good/5star reviews. So many Companies encourage customers to write them, but for an insurer they are useless unless referring to how a claim was handled. Ditto immediate 5 star comment on a product as soon as it has been bought.

I never review unless genuinely thrilled about that Company and the only time I do review is to get back at a Company that has let me down badly. It’s likely that applies to others writing negative reviews too.

Satisfied customers usually don’t bother reviewing unless pressured by that Company to do so, and with the odd times I’ve had Saga insurance they have not put pressure on for a positive review. And worth a reminder that fake reviews good and bad are commonplace.

[justiceforthemany] 19/7/2019 11:01

What's with the multiple 1250 trades? Market skullduggery...

[husbod] 19/7/2019 10:58

As long as they don't allow small human beings anywhere near the boats I don't care. So far as holidays go Titan don't have an age limit so there's already flexibility but generally speaking no sane adult would take children on an escorted tour or small cruise ship anyway.Annoying drop in the share price today.

[boraki] 19/7/2019 10:57

There seems to be a bot selling 1250 lots

[edmondj] 19/7/2019 10:23

All of the marketing pitch at least, is 'over 50'.

Potentially that could be an Elliott ploy: rip up the oldie marketing model, maybe even bid for the company and run it a while, further restructure insurance then sell on for a trade buyer to add market share. Hugely speculative though, and requiring a payment for some extent of £1.175 billion goodwill still on the balance sheet, that may be fantasy value.

[diku] 19/7/2019 10:17

Can the age group of 50 and above be lowered to say 40 and above?...is there any room for goal posts to move or are they legally bound by company set up rules to stay 50 and above customers only?...

[edmondj] 19/7/2019 10:07

I'll concede a personal interest in that I thought Saga was an 'avoid' at flotation, being aware its insurance pitches were uncompetitive (even with a £50 offer to switch), however I didn't dissuade an elderly relative (who is a Saga member) on the receiving end of the float mails. I'd previously told her to avoid Royal Mail which in the short term at least, had been a missed opportunity.

Thus against the latest proclamations of Saga management and institutional actions (that include Standard Life loading up to 15% early this year, now substantially in loss) I'm interested to see what is the customer experience. For my own purposes I'm not at all tempted by the 3-year fixed price policies, 1-year policy prices will need to rise over 30% to make a 3-year tie-in worthwhile. At the end of each year I'm content to review options for a few minutes and I suspect so might be others aged over 50. With due respect Saga still seems to have made a good start selling the 3-year policies.

Experiences with claims handling may also be relevant versus the reviews companies often prompt customers to make online - e.g. providing a web-link as soon as you have completed the easy part of signing up. As one such poster noted, the 4/5 star reviews come after signing up, 1/2 stars more often regarding claims. Admittedly you have to factor in how complaints online may still be small in overall corporate context.

Anyway time will tell whether 'Scuttlebutt' attention to real-life experiences trump reading RNS on trading updates and institutional dealings.

[dr biotech] 18/7/2019 21:03

So one review in poorly written English, and another who switched off their freezer and then wanted to claim for the food inside it. Very difficult to judge either way without more details, but if you switched off your freezer voluntarily it’s got to be for a good and valid reason. My freezer currently contains about £30 of food, I wouldn’t bother claiming for that.

[thecroots] 18/7/2019 18:47

Do we really need customer reviews on here, good or bad? (Not aimed at you Jones!)

[sharebuddy1] 18/7/2019 18:24

That was clearly the object. Could post lots of reviews which say Saga service is great.